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Essay / Research Paper Abstract
This 6 page paper delves into J.P. Morgan's life and finds out why he was investigated. This wealthy man controlled much of the business to arise in the U.S. during the turn of the twentieth century. The industrial revolution is discussed.
Bibliography lists 7 sources.
Page Count:
6 pages (~225 words per page)
File: RT13_SA122JPM.rtf
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Unformatted sample text from the term paper:
was investigated. This wealthy man controlled much of the business to arise in the U.S. during the turn of the twentieth century. The industrial revolution is discussed. Bibliography lists
7 sources. SA122JPM.rtf J.P. Morgan was extremely wealthy. That might even be an understatement. He backed a government bond issue of
$62 million dollars in 1895, and in 1901 he was able to secure a $50 million dollar American issue in respect to the British war loan ("John," 2001). In the
early 1900s he was able to provide backing that assisted the U.S. Treasury, which was related to a stock market panic (2001). That was shortly before he died. But by
that time, he was suspect. The government investigated him. Why the government investigated him appears simple on the surface, but some contend that he was a scapegoat.
It is after all common in the society to go after rich people due to the fact that they are easy targets, they have money
that people would like to get their hands on and they are convenient scapegoat for the problems of others. Some proof of that lies in the fact that he had
been nicknamed "robber barron" (Miller & Faux, 1997, p.307). But on the other hand, J.P. Morgan-with all his wealth-pushed the limits of the spirit of the law in order to
amass more and more money. One author says that anyone with as much power and influence as J.P. Morgan would be bound to
attract his share of detractors ("John," 2001). That is a plausible explanation, supporting the notion that he was unfairly targeted. In the end, he was investigated by the U.S.
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